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HCHA April 9, 2019 <br /> Villegas: aloha Neil. Thanks for being here today and thanks for coming to meet <br /> with me in Kona and explaining and going through this project...housing project <br /> platforms and everything that's being done. One thing that comes to mind to <br /> me being new...a new member of this body is historically looking at the westside <br /> we do have much higher real estate prices and rental prices. Something that I <br /> am finding concerning is the historical variances being provided by private...or <br /> to private developers in allowing land swaps and the County taking a different <br /> piece of property in exchange for a developer not having to actually build the <br /> affordable housing that their development otherwise required and I also heard <br /> of another developer that was able to pay a nominal sum of like $50,000 to not <br /> have to build the 11 homes or whatnot, now in my mind that's a red flag cause <br /> you could barely build a garage for$50,000 right now so I have some interest <br /> and I...I'm hoping I can rely on your help for how and where its written in the <br /> code that allows for that kind of land swaps or for the payout in exchange? <br /> Gyotoku: I think you talking about what we call excess housing credits. <br /> Villegas: Okay. <br /> Gyotoku: And its in Chapter 11 of the County Code. <br /> Villegas: Okay. <br /> Gyotoku: Under the Chapter 11 , if they build so much units or develop so much <br /> lots they receive housing credits and those excess credits can be sold to another <br /> developer. So lets say this other developer, if they buy the credits, do not have <br /> to build 20% of affordable housing, they can use that housing credits to satisfy <br /> their affordable housing credits. <br /> Villegas: Okay. <br /> Gyotoku: And it can very as far as the amounts. In the past its been kind of, I <br /> hate to say, loosely used, as far as given out... <br /> Villegas: Yeah, to the negative impact of community. Yeah. <br /> Gyotoku: ....our Corp Counsel and myself we are in the process of really trying to <br /> correct the situation and make sure that the County receives the affordable <br /> housing that we are supposed to be receiving and tying these developers to <br /> make sure that they comply with the affordable housing agreement so once <br /> they come in if they gunna have a development then they have to sign with us <br /> an affordable housing agreement which says that they gunna either build <br /> so...20% of the units or...of the total units for affordable housing or, you know, as <br /> Page 16 of 22 <br />